Title :
Industrial CHP optimal management in the energy market under incomplete information
Author :
Uuemaa, P. ; Drovtar, I. ; Kilter, J. ; Vigants, Haralds ; Blumberga, Dagnija ; Puusepp, Allan
Author_Institution :
Dept. El. Power Eng., Tallinn Univ. of Technol., Tallinn, Estonia
Abstract :
This paper investigates the possibilities how to optimize the industrial combined heat and power plant (CHP) daily operations and decision making process. The aim of the paper is to develop a method for an economic optimization of the industrial CHP. The method takes into account the industrial production together with an energy production in order to maximize the global profit for the entire facility. The method utilizes the electricity spot market price variation for the benefit of the market participant.
Keywords :
cogeneration; decision making; optimisation; power markets; power system management; combined heat and power plant; decision making process; electricity spot market price variation utilization; energy market; energy production; global profit maximization; industrial CHP economic optimization; industrial CHP optimal management; market participant benefit; Cogeneration; Electricity; Electricity supply industry; Optimization; Production facilities; combined heat and power plant; demand side management; energy efficiency; industrial processes;
Conference_Titel :
Innovative Smart Grid Technologies - Asia (ISGT Asia), 2014 IEEE
Conference_Location :
Kuala Lumpur
DOI :
10.1109/ISGT-Asia.2014.6873822
